LONDON -- Consumers' desires for new flavors, healthier options and packaging development will lead growth in packaged beverage sales in coming years, according to the latest market study released by Technavio.
The report, titled Global Soft Drink Market 2017-2021, predicts the global soft-drink market will grow at a compound annual growth rate (CAGR) of close to 6% during the forecast period.
Here are the report's summaries of three primary product segments ...
In carbonated soft drinks, “there is a growing demand for low-calorie and low-sugar drinks and drinks made from natural sweeteners like stevia among consumers," said Manjunath Reddy, a lead analyst at Technavio for nonalcohol beverage research. “For example, the demand for diet soft drinks like Diet Coke, Diet Pepsi, drinks sweetened with cane sugar like Coca-Cola Life, and other similar products is increasing. There is also a rising demand for fruit-flavored carbonated soft drinks like orange, grape, pineapple, mango, grapefruit, passion fruit and others.”
“The factors that are contributing to the growth of the market are the versatility and convenience factors of bottled water," Reddy said. Key among these attributes are the health advantages of drinking water and lower calorie intake, the report says.
One of the major health trends in Western countries is "juicing," the report says. A different nutritional composition of vitamins, fiber, minerals and antioxidants is present in different juices. One of the key factors driving the market demand for juices is the growing health-consciousness among people.
Overall, the demand for coconut water is rising faster than the demand for juices. the report says. Therefore, the coconut-water market segment has a greater number of companies tapping into it. There is a lot of popularity among consumers for juice cocktails and mocktails.
London-based Technavio is a global technology research and advisory company. Its research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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